Reply to Do you know a lot of people with family money in NW DC?

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[quote=Anonymous][quote=Anonymous] I also felt a sense of pride that we are living a similarly privileged upper middle class life that we built entirely on our own, from a very humble start. [/quote]

You should feel proud of yourself for your accomplishments but that doesn't reflect on those who might have been "luckier" at birth. No one chooses their families.  Since you built a nice upper middle class life yourself, what will you with your money? Unless you're a big spendthrift, you're likely to accumulate some significant wealth over time. Will any of it go to your children? Do you plan on cutting them off after college? If you will pass some of your assets to them, won't that just put you in the same position as your friends/neighbors' parents?

DH and I didn't come from money either and we didn't choose careers for their earning potential. But, we find ourselves making a lot more than we imagined when we were 25.  Despite lots of philanthropy, our income and assets grow faster than we know how to spend.  Our luxuries are private school and interesting vacations, not Teslas or Louboutins. We're going to make sure our child starts adulthood without the financial annoyances we had (student loans) or the need to support us the way we have supported our parents. A down payment for DC's first house, vacations, even trust funds for the grandchildren (if we are so lucky) are likely to be easy gifts that we can enjoy with them.

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